To The Moon

* Wall Street falls as the Fed revives inflation concerns; Hong Kong stocks remain cautious ahead of large-cap earnings.

🇺🇸 S&P 500: -0.27% 📉

🇺🇸 Nasdaq: -0.18% 📉

🇪🇺 Stoxx 600 Index: -0.33% 📉

🇯🇵 Nikkei 225 Index: -0.85% 📉

🇭🇰 Hang Seng Index: -0.11% 📉

🇨🇳 CSI 300 Index: 0.24% 📈

* U.S. stocks were lower on Wednesday, with the S&P 500 and Nasdaq Composite down -0.3% and -0.2% respectively, as minutes from the Federal Reserve's May meeting raised concerns about persistent inflation and suggested the central bank may not cut interest rates anytime soon .

* Japan's exports rose 8.3% year-on-year in April 2024 (11.1% expected), up from 7.3% year-on-year growth in March, led by exports of automobiles, semiconductor manufacturing equipment and electronic components.

* Asia-Pacific markets were mixed, with the Hang Seng down -0.1% as investor sentiment turned anxious ahead of earnings reports from big tech companies, while China's CSI 300 rose 0.2%, driven by a rebound in the real estate sector, with market participants Keep an eye on the effectiveness of the latest housing stimulus measures.

💡 Future events: 💡

* Unemployment claims, S&P Global Manufacturing and Services PMI flashes and Japan Jibun Bank Manufacturing PMI flashes were on investors' radar Thursday.

* We end the week with the release of Japan's national core CPI year-on-year, the US's revised University of Michigan Consumer Confidence Index on Friday.

💡Things you need to know today:💡

1. Minutes of the Federal Reserve's (Fed) latest meeting showed that the central bank is still worried about inflation in the United States. Although inflation in the United States has eased in the past year, recent months have shown that it is still struggling to achieve the Fed's 2% inflation rate. The lack of further progress on the target has led to sharp price increases for both goods and services.

2. Nvidia $NVIDIA Corp(NVDA)$  $GRANITESHARES 1.5X LONG NVDA DAILY ETF(NVDL)$  announced adjusted earnings per share of USD 6.12 and revenue of USD 26 billion, an increase of 461% and 262% respectively over the previous year, exceeding analyst expectations. It also announced a 10-for-1 stock split and an increase in dividends, attributing growth to strong demand for AI training and inference in data centers accounted for 86% of total revenue.

Nvidia Income

3. Panasonic Holdings $Panasonic Holdings Corporation(PCRFF)$   is selling its projector business, a leader in high-end projectors for events such as the Olympics, for an estimated 510 million USD, a move aimed at integrating its electric vehicle batteries, heat pumps and digital Supply chain management business as a growth area.

Panasonic

4. As part of the government's stimulus plan, China launched 30-year ultra-long bonds to shore up its turbulent economy. The bonds, seen as safe investments, have become popular among institutional and individual investors, reflecting investor demand for safety amid a housing downturn and low bank interest rates.

5. Super Hi International Holding $Super Hi International Holding(HDL)$ , operator of China's Haidilao $HAIDILAO(06862)$   hotpot chain, successfully listed in the United States and plans to use 70% of the USD 53 million offering for brand promotion and international expansion. The move is in line with a recent trend of Chinese companies seeking to list in the United States, hoping to make it easier to raise capital and improve liquidity.

Super Hi

✅ KEY TAKEAWAYS:

The hawkish tone of the Fed's latest meeting minutes suggests that "a long-term move higher is the official mantra, and with a rate cut unlikely, markets may fluctuate on other factors."

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